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    BSP finds guidelines on bank safety poor
     
    By Jun Vallecera
    Reporter
     

    EXISTING guidelines ensuring the safety of bank premises for both employees and the banking public have been declared inadequate by the Bangko Sentral ng Pilipinas (BSP).

    “They are now being discussed and are under review,” BSP Governor Amando Tetangco Jr. said on Friday.

    The review on the safety of bank premises came on the heels of the horrendous robbery at the Cabuyao, Laguna, branch of the Rizal Commercial Banking Corp. in May in which 10 people, mostly bank personnel, were killed.

    Tetangco declined to say which of a number of security measures have been found wanting, beyond saying the review was comprehensive.

    Bank branches, especially those located in so-called high-risk areas, are encouraged to put up closed-circuit television units as a security measure. It is not, however, mandatory like the fire extinguisher.

    The RCBC branch, where bank employees were killed, had no such equipment.

    The police considered the incident the worst bank robbery in memory. They noted the bank branch had an alarm system that did not work.

    Regulations also require banks to install time-delay locks on their vaults in response to an earlier series of bank heists that made the ordinary act of going to the bank a hazardous exercise.

    Time-delay mechanisms were supposed to discourage bank robbers as the vault will open only at preset times of the day, according to the BSP.

    Tetangco also declined to say how extensive the discussions and the safety recommendations had been.

    He said the new guidelines should soon be out upon approval by the seven-man Monetary Board. Tetangco heads the policymaking board.

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